MX Media Co. Ltd, the parent company of MX TakaTak, and ShareChat, the parent company of Moj, announced a strategic merger between Moj and MX TakaTak, to create the largest short video platform for Indians, where by the two platforms will now be controlled by ShareChat.
Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat, a statement said.
Commenting on the merger, Ankush Sachdeva, CEO and Cofounder, ShareChat & Moj, said, “We at ShareChat are building India’s largest content ecosystem which has been on an unprecedented growth trajectory. MX TakaTak is a popular platform and this merger further solidifies our position in the short video ecosystem. With this development, we aim to build the largest original content platform on Moj along with the largest community of users across India.”
Commenting on the partnership, Karan Bedi, CEO MX Media said, “I am excited to announce the strategic merger of India’s two most popular social media platforms. As India’s largest digital entertainment platform, MX has always strived to build superior world class products, and TakaTak is no exception. This combined with Moj’s AI and execution capabilities makes the combined business a truly world class short video platform. MX has created two ‘unicorns’ within one business, unlocking significant value for our shareholders, and will now continue to double down on OTT, with significantly increased financial resources.”
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